Phillips Edison Names Richard J. Smith as Chief Financial Officer

CINCINNATI, Feb. 25 /PRNewswire/ -- Phillips Edison & Company announced the appointment of Richard J. Smith as chief financial officer. He will be responsible for providing hands-on leadership in managing the company's balance sheet and risk exposure and for developing long-term fund raising capabilities to meet the growing real estate company's capital needs.

(Photo:  http://www.newscom.com/cgi-bin/prnh/20100225/NE61237 )

Mr. Smith has been involved in the retail real estate industry for more than 35 years. Prior  to joining Phillips Edison, he served for 13 years as chief financial officer and secretary of Ramco-Gershenson Properties Trust, a self-administered, publicly traded Real Estate Investment Trust that owns and manages a portfolio of 88 shopping centers, of which a large majority are anchored by grocery and/or value-oriented retailers.

"We are extremely pleased to name Rich as our Chief Financial Officer," said Jeff Edison, principal. "He has significant experience in the public real estate environment and has demonstrated his ability to successfully manage the strategic and financial requirements of retail real estate companies. He will be a tremendous addition to our management team."

Before joining Ramco-Gershenson, Mr. Smith was vice president of financial services for The Hahn Company in La Jolla, California, a full-service owner and developer of super-regional malls throughout the United States. He previously served as chief financial officer and treasurer of Glimcher Realty Trust, a self-administered, publicly traded Real Estate Investment Trust that owns regional malls, community shopping centers and single-tenant retail properties nationwide. From 1978 to 1988, he was controller and director of developmental financial services for The Taubman Company, a national developer, owner and manager of super-regional malls and mixed-use projects.

"Phillips Edison has earned an outstanding reputation as an industry leader in adding value to its shopping center acquisitions," commented Smith. "With its financial strength and national operating platform, the company is well positioned to take advantage of growth opportunities in the neighborhood and community shopping center sector. I am excited to be a part of this dynamic real estate company."

Mr. Smith holds a BBA in Accounting and Finance from Eastern Michigan University. He is a member of the American Institute of Certified Public Accountants, the Michigan Association of Certified Public Accountants, The National Association of Real Estate Investment Trusts (NAREIT) and the International Council of Shopping Centers.

Phillips Edison & Company specializes in the acquisition, redevelopment, leasing, and management of anchored neighborhood and community shopping centers. The company's portfolio includes 240 properties, totaling over 26 million square feet in 35 states. The privately owned, fully integrated real estate company has corporate offices in Cincinnati and Salt Lake City, as well as regional offices across the country.

SOURCE Phillips Edison & Company

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